When it comes to embezzlement, businesses in some regions of the United States seem to be more vulnerable than others. According to the Denver Business Journal, a recent study released by the Federal Bureau of Investigation (FBI) revealed that of the 17,000 incidents submitted to the National Incident-Based Reporting System in 2011, Virginia proved to have this behavior may be on the rise. In fact, the number of investigations into white-collar crimes increased by 52 percent from 2008. The research covered a number of sources of fraud in the workplace, with false accounting among them.
As business leaders look to ensure their future success, it's critical to protect accounts payable from any potential harm. With organizational fraud persisting as a major threat to today's enterprises, it's more important than ever before to use tools such as AP audits to detect errors and misappropriation before losses spiral out of control.